How Nigerian Banks Are Stealing From Retail Pharmacy Owners In Nigeria.

I want to warn Nigerian retail pharmacy owners about how Nigerian banks are stealing from them. I decided to write this Aristotle after reading a post by one of my clients who had a serious complain against UBA. He complained bitterly that UBA was not remitting the money his customers where paying into his account.

This is a post from his page

Armed Robbers in suits ! I am tired of UBA

The use of POS in ………. pharmacy has become a nightmare . The more we use,the more the so called Armed Robbers in suits steal from us.

We had detected frauds upon frauds in our Company that amounts to Millions recently and they paid.
This was March,2017 transactions and we detected in May,2017. All they blamed was network-keeping someones money for more than 2 months?
Another sets have started . You do say daily transaction of #100,000 and they remit only #30,000 waiting to see if you will detect. If you do not have an ACCOUNTANT who is on top of his game,Onitsha Head Bridge may be the next destination if you are from the South-East.

The keeping/protection of POS merchant paper is now the beginning of wisdom.

I am tired of UBA. I am tired of UBA. I wish I never got their pos. I wish I never met my present Account officer who seem to me that s/he only goes to work to collect salary.
I wish I never met any red coloured building.
Little Fox I heard destroy a garden but in UBA, big foxes destroy .

Please help me to tell Mr. Tony Erumelo that they are NOT treating people well with all these sharp practices. To collect Loan you chased us away with very high interest rate and relax to steal the little i got from another source.
God will visit all of you Achan and Hamman!

Very annoying!


Now, there are several other ways of how Nigerian banks are stealing from retail pharmacy owners. I head this during the interview of a former banker for a job position. He said that during those period when banks claim that there are network down times, they actually use it to manipulate figures of the accounts of their clients. For instance, he said they have s software with which they use to debit the account of almost all their customers that have very active accounts knowing that most people rarely go to verify the reason for certain deductions from their actions.

save a pharmacy

He said the deductions are usually small like one thousand naira or less. But imagine where 1000 is deducted from your account on a weekly basis.

The solution to this is very simple. Retail pharmacy owners must keep the POS printer outs of all transactions done in their premises and most importantly have an accountant go through their bank statements of account at the end of each month to reconcile their account.

Failure to do this will cost you some serious amount of money that you may have used to accomplish something significant in your business.

This is also why its very important that all retail pharmacy owners have an accountant even if its a over time accountant who comes in once a month to do their books for them.

As a retail pharmacy power, you must reduce the number of people stealing from you. Its bad enough that staff steal from you. Adding Nigerian banks to the people that steal from you is worse. So, do something about it.

You must also take a BUSINESS MANAGEMENT PROGRAM FROM KANSELOR UNIVERSITY to show you how to better run your business.


contact this writer on 08023622171

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